Tuesday, January 8, 2013

COGNIZANT SURPASSES INFOSYS IN QUARTERLY RESULTS

Nasdaq-listed Cognizant Technology Solutions Corp once again surpassed Infosys by reporting a growth of 18.2 per cent in revenue for the July-September 2012 quarter.

Cognizant on Wednesday said that its revenue grew to US$ 1.892 billion in the three months through September 30, while net profit climbed 22 per cent from US$ 227.1 million to US$276.9 million year-on-year.

In comparison, software exporter Infosys has reported revenue of US$ 1.79 billion for the July-September quarter of current fiscal, while its net profit stood at US$ 431 million.

India's No 1 software exporter TCS reported a revenue of around US$ 2.9 billion for the quarter under review.

Commenting on the quarterly results, Cognizant President Gordon Coburn said, "We are pleased that our growth was broad-based across services and geographies."

Coburn added that Cognizant's BPO, consulting and IT infrastructure services had been growing faster than company's average and accounted for around a fifth of total revenue in the concerned quarter.

In the final quarter of 2012, the company anticipates revenue of at least $1.94 billion.

For the full financial year, Cognizant maintained its revenue outlook at least US$ 7.34 billion. It is worth-mentioning here that unlike Indian software firms, Cognizant follows a January to December financial year.